Kyiv [Ukraine], May 2 : After the US and Ukraine signed an economic partnership agreement granting Washington access to Ukraine's rare earth minerals in exchange for an investment fund, President Volodymyr Zelenskyy called the deal an equal partnership and emphasised its benefits, including significant investment, industrial modernisation, and a new Reconstruction Fund.
Sharing a post on X on Thursday, Zelenskyy wrote, "Today, our government team reported on the economic partnership with the United States. We have an agreement. It has been signed and will be submitted to the Verkhovna Rada for ratification. And we are interested in having no delays with it."
"All our representatives did a good job. The agreement has changed significantly during the preparation process. It is now truly an equal partnership -- one that creates opportunities for substantial investment in Ukraine, as well as significant modernisation of Ukraine's industries and, equally importantly, its legal practices. The agreement foresees no debt. It stipulates the establishment of a Reconstruction Fund that will invest in Ukraine and generate returns in Ukraine. This means joint work with America, based on fair terms, allowing both Ukraine and the United States, which supports us in our defence, to make money in partnership," the post added.
The Ukrainian President further called the deal the first tangible outcome of their meeting in the Vatican City.
"President Trump and I discussed our readiness to conclude this agreement during our meeting in the Vatican. In fact, this is the first tangible outcome of that Vatican meeting, making it historic. We look forward to other outcomes from that conversation -- it was a meaningful meeting, and President Trump and I used every minute to the fullest. I thank him for that. And once again, I thank both our teams -- the Ukrainian and the American," Zelenskyy said.
https://x.com/ZelenskyyUa/status/1917994267294748840
Since President Trump assumed office in January, the US and Ukraine have been trying to sign an agreement on natural resources. The deal between the two nations comes after weeks of intense negotiations that at times became bitter and temporarily derailed US aid to Ukraine.
On Wednesday, the US Treasury Department said that both nations signed the agreement. In a statement, the US Treasury Secretary Scott Bessent said, "As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war."
Zelenskyy was expected to sign the agreement during his visit to the US in February. However, the agreement was not signed after his visit was cut short following the contentious Oval Office meeting.